31 Jan 2006

Now you tell me

«(...) economics is one of the great intellectual failures of the 20th century as it lags what is really happening in the world. Economists tend to spend about twenty years understanding what happened in the previous twenty years and by the time they understood that, the world has moved on and all they are left with is trying to cram the world into what they understand rather than understanding what is happening today.»

Stewart Cowley, Mellon Global Investments